According to a survey released today by the Securities Industry and Financial Markets (SIFMA), the economy is expected to start growing in the third quarter of 2009, but the expansion will be slow through the first half of 2010.

The economic survey of economists from the association’s member firms predict a .8 percent GDP for the July through September period, accelerating to 1.9 percent in the fourth quarter. The prediction for 2010 is forecasted at 2.1 percent.

The survey, which was conducted from May 27^th – June 12^th, also showed the majority of respondents did not believe inflation was an immediate threat. The core inflation rate, which excludes energy and food, is predicted to be 1.6 percent in 2009 and 1.2 percent in 2010.